June 9th, 2009
Transfer pricing has steadily become one of the number one issues for the Internal Revenue Service (IRS). Alfredo Jay Urquidi of Marsh & McLennan Companies and David Jarczyk of Ceteris discuss.
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June 9th, 2009
If ever there was doubt about the role that banks actively play in tax evasion, the following article has laid it to rest. An article published by Bloomberg this week shares the thoughts of Bradley Birkenfeld, a former UBS private banker and admitted felon. From
Bloomberg:
“This was a massive machine,” Birkenfeld told Senate investigators on Oct. 11, 2007. He said UBS bankers crisscrossed the U.S. -- without required licensing from the Securities and Exchange Commission -- to find wealthy American customers...
As many as 60 UBS private bankers trolled for clients at UBS-sponsored...
June 8th, 2009
California billionaire Igor Olenicoff had already invested $200 million with UBS AG in 2001 when his Swiss bankers ushered him to an underground vault in Geneva.
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June 5th, 2009
The US government has brought charges against 3 individuals involved in a $1.3 billion tax fraud scheme. From the
Los Angeles Times:
Two principals of defunct Seattle investment management firm Quellos Group and a Los Angeles lawyer were indicted in a tax shelter scheme that allegedly created more than $1.3 billion in fraudulent losses for prominent clients, including media mogul and billionaire investor Haim Saban.
The operation was "one of the largest tax fraud schemes ever uncovered in this country," U.S. Atty. Jeffrey C. Sullivan in Seattle said Thursday.
The article continues:
The indictment names...
